Beyond the Model: The MFE26 Internship Experience

Most people imagine quant internships as weeks of backtesting models in isolation.

But the reality is far more dynamic.

From October to January, MFE26 students stepped into roles across NYC Wall Street, SF Market Street, and beyond, building production tools, engaging with clients, and contributing to real-world decisions at hedge funds, asset managers, banks, and AI-driven financial firms. Supported by Berkeley Haas’ powerful network and career team, 98.7% of students secured internship offers, with 96.1% accepting roles for the Fall/Winter 2025 term.

Finance & Technology Across SF, NYC, and Beyond 

Many students worked on the buy side, having stakes in investment research and portfolio strategy. Interns at various hedge funds and asset management firms unveiled patterns in equity markets through building research pipelines, tested trading signals, and evaluating large datasets. Others supported trading desks, designing execution analytics tools to evaluate how institutional trades move through markets and how transaction costs impact performance.

Not every internship experience focused purely on the markets. Some students pursued roles in AI-driven financial platforms. Others worked on risk teams at credit-focused investment firms, helping aggregate exposures across rates, credit, and liquidity to monitor potential tail risks in portfolios.

Reflections: Jacob Lan MFE26 

From his time on the Prime Risk team at Barclays, one student, Jacob, shares:

I began to see [risk management] more as the safety net that keeps everything from collapsing when markets inevitably behave in ways nobody expected.

The more I learned about how people actually behave in markets, the more I realized those moments happen quite often.

A mimic of the good old saying: Everybody can’t be the arbitrageur, somebody has to drive. Risk management is the driver that keeps the car on the road when conditions get rough.

Reflecting on his internship, Jacob also notes that "modeling and coding skills are essential, but communicating ideas clearly can be just as important. A model is only useful if people understand why it works and when it might fail."

While technical skills are essential, it is communication, continuous learning, and one's own curiosity that ultimately define long-term success. These are the qualities that shape stronger leaders in the field.

A Launchpad for What’s Next

From trading and research to risk and product, MFE students are equipped to pursue paths across quantitative finance without limits. Our team provides world-class career services that empower students with the tools, connections, and guidance needed to navigate and succeed in the industry.

If you’re ready to break into the field, the Berkeley Haas MFE gives you the experience, network, and momentum to get there.

Apply by our Round 2 deadline on April 1 🚀
*Fee Waivers offered through March 28